The company, which had 256 stores in 23 states under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers brand names at the time of the filing, will liquidate after failing to find bidders that were interested in operating the business as a going concern.

More details about the liquidation plans and going out-of-business sales will be released after the winning bid is approved by the bankruptcy court, the company said.

Claire’s Stores

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The retailer, which claims to have pierced over 100 million ears worldwide, operates two store brands — Claire’s and Icing — in more than 7,500 locations in 45 countries through company-owned stores, concessions and franchises.

The company has not indicated that it plans to close stores. The chain has locations in about 99% of U.S. malls, according to the court filing.

The company has reached an agreement on a debt-cutting plan with its main creditors and said it plans to shed about $1.9 billion in debt.

Toys R Us

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